The global Healthcare Analytics market gathered revenue around USD 23.0 Billion in 2020 and market is set to grow USD 130.1 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 24.2% during the prediction period 2021 to 2027.
Growth Factors:
The rising need to enhance patient outcomes simultaneously focusing on reducing expenses is supporting the growing need for analytical solutions in the industry. Moreover, analytical solutions developers and providers are introducing advanced analytical solutions, which is further boosting revenue growth.
The covid-19 pandemic has strained the global healthcare systems and is supporting the growing demand for analytical solutions. Furthermore, during the pandemic analytical solutions providers have made technological advancements allowing healthcare systems to overcome the physical restrictions of labor and capital, and venture new sources of growth. The industry uses these solutions in tracking facility capacity, evaluating and identifying high-risk patients.
The services segment dominated the market owing to the growing trend of healthcare and life science companies outsourcing these analytical services since they lack the capabilities and resources for the same. Descriptive analysis dominates the analytics industry due to the growing demand for quantifiable and descriptive analysis to holistically analyze historic business performances and trends. On the other hand, predictive analysis is anticipated to grow lucratively owing to the growing adoption rates of advanced analytical solutions in predicting future outcomes.
Financial systems using analytical solutions dominated the market with the growing trend of integrating analytical solutions in government and private healthcare settings to prevent frauds and maximize cost savings. Although on-premises deployment dominated the market due to ease of accessibility and minimum costs, cloud deployment is expected to grow tremendously with the growth of web-based and internet services enhancing accessibility. Life science companies extensively use analytical solutions in improving the accuracy and efficacy of their products and services. Healthcare providers are witnessing a rise in adoption rates of analytics with the growing use of analytical solutions in hospitals and clinics especially.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Healthcare Analytics market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Healthcare Analytics market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
Report Coverage
| Report Scope | Details |
| Market Size | USD 130.1 Billion by 2027 |
| Growth Rate | CAGR of 24.2% From 2021 to 2027 |
| Base Year | 2020 |
| Forecast Period | 2021 to 2027 |
| Historic Data | 2017 to 2020 |
| Report coverage | Growth Factors, Revenue Status, Competitive Landscape, and Future Trends |
| Segments Covered | Component, type, application, delivery mode, end-user And Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Companies Mentioned | McKesson Corporation; Optum, Inc.; Verisk Analytics Inc.; Elsevier; Medeanalytics Inc.; Truven Health Analytics; Allscripts Healthcare Solutions Inc.; IBM; Cerner Corporation; IQVIA; Oracle; SAS Institute, Inc. |
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Healthcare Analytics market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
Regional analysis:
North America dominated the market and accounted for the largest revenue share of 50.2% in 2020. It is mainly attributable to the evolving and developed healthcare facilities, rising geriatric population, increasing prevalence of chronic disorders, growing adoption of analytical solutions, technological advancements, and presence of market key players. North American market players are focusing on developing advanced analytical solutions for healthcare organizations.
On the other hand, Asia Pacific is anticipated to register the fastest growth during the forecast period. Advancements in infrastructure, rising expenditures, the adoption of advanced analytical solutions, the emergence of start-ups are boosting the growth and development of the healthcare analytics market. Furthermore, public and private investments in advancing infrastructure, regional expansions, availability of highly skilled labor, and economic development are additional factors driving the market in the region.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Some of the prominent players in the Healthcare Analytics Market include: McKesson Corporation; Optum, Inc.; Verisk Analytics Inc.; Elsevier; Medeanalytics Inc.; Truven Health Analytics; Allscripts Healthcare Solutions Inc.; IBM; Cerner Corporation; IQVIA; Oracle; SAS Institute, Inc.
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2027 and covers subsequent region in its scope:
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Highlights of the Report:
Research Methodology
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Healthcare Analytics market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Healthcare Analytics market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Healthcare Analytics markets more accurate and reliable.
Secondary Research
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
Primary Research
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
Industry participants involved in this research study include:
Key Points Covered in Healthcare Analytics Market Study:
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Healthcare Analytics Market, By Type
7.1. Healthcare Analytics Market, By Type, 2020-2027
7.1.1. Descriptive
7.1.1.1. Market Revenue and Forecast (2017-2027)
7.1.2. Predictive
7.1.2.1. Market Revenue and Forecast (2017-2027)
7.1.3. Prescriptive
7.1.3.1. Market Revenue and Forecast (2017-2027)
Chapter 8. Global Healthcare Analytics Market, By End-use Type
8.1. Healthcare Analytics Market, By End-use Type, 2020-2027
8.1.1. Hardware
8.1.1.1. Market Revenue and Forecast (2017-2027)
8.1.2. Software
8.1.2.1. Market Revenue and Forecast (2017-2027)
8.1.3. Services
8.1.3.1. Market Revenue and Forecast (2017-2027)
Chapter 9. Global Healthcare Analytics Market, By Delivery Mode Type
9.1. Healthcare Analytics Market, By Delivery Mode Type, 2020-2027
9.1.1. On-premises
9.1.1.1. Market Revenue and Forecast (2017-2027)
9.1.2. Web-based
9.1.2.1. Market Revenue and Forecast (2017-2027)
9.1.3. Cloud-based
9.1.3.1. Market Revenue and Forecast (2017-2027)
Chapter 10. Global Healthcare Analytics Market, By Application Type
10.1. Healthcare Analytics Market, By Application Type, 2020-2027
10.1.1. Clinical
10.1.1.1. Market Revenue and Forecast (2017-2027)
10.1.2. Financial
10.1.2.1. Market Revenue and Forecast (2017-2027)
10.1.3. Operational and Administrative
10.1.3.1. Market Revenue and Forecast (2017-2027)
Chapter 11. Global Healthcare Analytics Market, By End-use Type
11.1. Healthcare Analytics Market, By End-use, 2020-2027
11.1.1. Healthcare Payers
11.1.1.1. Market Revenue and Forecast (2017-2027)
11.1.2. Healthcare Providers
11.1.2.1. Market Revenue and Forecast (2017-2027)
11.1.3. Lifescience Companies
11.1.3.1. Market Revenue and Forecast (2017-2027)
Chapter 12. Global Healthcare Analytics Market, Regional Estimates and Trend Forecast
12.1. North America
12.1.1. Market Revenue and Forecast, By Type (2017-2027)
12.1.2. Market Revenue and Forecast, By End-use (2017-2027)
12.1.3. Market Revenue and Forecast, By Delivery Mode (2017-2027)
12.1.4. Market Revenue and Forecast, By Application (2017-2027)
12.1.5. Market Revenue and Forecast, By End-use (2017-2027)
12.1.6. U.S.
12.1.6.1. Market Revenue and Forecast, By Type (2017-2027)
12.1.6.2. Market Revenue and Forecast, By End-use (2017-2027)
12.1.6.3. Market Revenue and Forecast, By Delivery Mode (2017-2027)
12.1.6.4. Market Revenue and Forecast, By Application (2017-2027)
12.1.7. Market Revenue and Forecast, By End-use (2017-2027)
12.1.8. Rest of North America
12.1.8.1. Market Revenue and Forecast, By Type (2017-2027)
12.1.8.2. Market Revenue and Forecast, By End-use (2017-2027)
12.1.8.3. Market Revenue and Forecast, By Delivery Mode (2017-2027)
12.1.8.4. Market Revenue and Forecast, By Application (2017-2027)
12.1.8.5. Market Revenue and Forecast, By End-use (2017-2027)
12.2. Europe
12.2.1. Market Revenue and Forecast, By Type (2017-2027)
12.2.2. Market Revenue and Forecast, By End-use (2017-2027)
12.2.3. Market Revenue and Forecast, By Delivery Mode (2017-2027)
12.2.4. Market Revenue and Forecast, By Application (2017-2027)
12.2.5. Market Revenue and Forecast, By End-use (2017-2027)
12.2.6. UK
12.2.6.1. Market Revenue and Forecast, By Type (2017-2027)
12.2.6.2. Market Revenue and Forecast, By End-use (2017-2027)
12.2.6.3. Market Revenue and Forecast, By Delivery Mode (2017-2027)
12.2.7. Market Revenue and Forecast, By Application (2017-2027)
12.2.8. Market Revenue and Forecast, By End-use (2017-2027)
12.2.9. Germany
12.2.9.1. Market Revenue and Forecast, By Type (2017-2027)
12.2.9.2. Market Revenue and Forecast, By End-use (2017-2027)
12.2.9.3. Market Revenue and Forecast, By Delivery Mode (2017-2027)
12.2.10. Market Revenue and Forecast, By Application (2017-2027)
12.2.11. Market Revenue and Forecast, By End-use (2017-2027)
12.2.12. France
12.2.12.1. Market Revenue and Forecast, By Type (2017-2027)
12.2.12.2. Market Revenue and Forecast, By End-use (2017-2027)
12.2.12.3. Market Revenue and Forecast, By Delivery Mode (2017-2027)
12.2.12.4. Market Revenue and Forecast, By Application (2017-2027)
12.2.13. Market Revenue and Forecast, By End-use (2017-2027)
12.2.14. Rest of Europe
12.2.14.1. Market Revenue and Forecast, By Type (2017-2027)
12.2.14.2. Market Revenue and Forecast, By End-use (2017-2027)
12.2.14.3. Market Revenue and Forecast, By Delivery Mode (2017-2027)
12.2.14.4. Market Revenue and Forecast, By Application (2017-2027)
12.2.15. Market Revenue and Forecast, By End-use (2017-2027)
12.3. APAC
12.3.1. Market Revenue and Forecast, By Type (2017-2027)
12.3.2. Market Revenue and Forecast, By End-use (2017-2027)
12.3.3. Market Revenue and Forecast, By Delivery Mode (2017-2027)
12.3.4. Market Revenue and Forecast, By Application (2017-2027)
12.3.5. Market Revenue and Forecast, By End-use (2017-2027)
12.3.6. India
12.3.6.1. Market Revenue and Forecast, By Type (2017-2027)
12.3.6.2. Market Revenue and Forecast, By End-use (2017-2027)
12.3.6.3. Market Revenue and Forecast, By Delivery Mode (2017-2027)
12.3.6.4. Market Revenue and Forecast, By Application (2017-2027)
12.3.7. Market Revenue and Forecast, By End-use (2017-2027)
12.3.8. China
12.3.8.1. Market Revenue and Forecast, By Type (2017-2027)
12.3.8.2. Market Revenue and Forecast, By End-use (2017-2027)
12.3.8.3. Market Revenue and Forecast, By Delivery Mode (2017-2027)
12.3.8.4. Market Revenue and Forecast, By Application (2017-2027)
12.3.9. Market Revenue and Forecast, By End-use (2017-2027)
12.3.10. Japan
12.3.10.1. Market Revenue and Forecast, By Type (2017-2027)
12.3.10.2. Market Revenue and Forecast, By End-use (2017-2027)
12.3.10.3. Market Revenue and Forecast, By Delivery Mode (2017-2027)
12.3.10.4. Market Revenue and Forecast, By Application (2017-2027)
12.3.10.5. Market Revenue and Forecast, By End-use (2017-2027)
12.3.11. Rest of APAC
12.3.11.1. Market Revenue and Forecast, By Type (2017-2027)
12.3.11.2. Market Revenue and Forecast, By End-use (2017-2027)
12.3.11.3. Market Revenue and Forecast, By Delivery Mode (2017-2027)
12.3.11.4. Market Revenue and Forecast, By Application (2017-2027)
12.3.11.5. Market Revenue and Forecast, By End-use (2017-2027)
12.4. MEA
12.4.1. Market Revenue and Forecast, By Type (2017-2027)
12.4.2. Market Revenue and Forecast, By End-use (2017-2027)
12.4.3. Market Revenue and Forecast, By Delivery Mode (2017-2027)
12.4.4. Market Revenue and Forecast, By Application (2017-2027)
12.4.5. Market Revenue and Forecast, By End-use (2017-2027)
12.4.6. GCC
12.4.6.1. Market Revenue and Forecast, By Type (2017-2027)
12.4.6.2. Market Revenue and Forecast, By End-use (2017-2027)
12.4.6.3. Market Revenue and Forecast, By Delivery Mode (2017-2027)
12.4.6.4. Market Revenue and Forecast, By Application (2017-2027)
12.4.7. Market Revenue and Forecast, By End-use (2017-2027)
12.4.8. North Africa
12.4.8.1. Market Revenue and Forecast, By Type (2017-2027)
12.4.8.2. Market Revenue and Forecast, By End-use (2017-2027)
12.4.8.3. Market Revenue and Forecast, By Delivery Mode (2017-2027)
12.4.8.4. Market Revenue and Forecast, By Application (2017-2027)
12.4.9. Market Revenue and Forecast, By End-use (2017-2027)
12.4.10. South Africa
12.4.10.1. Market Revenue and Forecast, By Type (2017-2027)
12.4.10.2. Market Revenue and Forecast, By End-use (2017-2027)
12.4.10.3. Market Revenue and Forecast, By Delivery Mode (2017-2027)
12.4.10.4. Market Revenue and Forecast, By Application (2017-2027)
12.4.10.5. Market Revenue and Forecast, By End-use (2017-2027)
12.4.11. Rest of MEA
12.4.11.1. Market Revenue and Forecast, By Type (2017-2027)
12.4.11.2. Market Revenue and Forecast, By End-use (2017-2027)
12.4.11.3. Market Revenue and Forecast, By Delivery Mode (2017-2027)
12.4.11.4. Market Revenue and Forecast, By Application (2017-2027)
12.4.11.5. Market Revenue and Forecast, By End-use (2017-2027)
12.5. Latin America
12.5.1. Market Revenue and Forecast, By Type (2017-2027)
12.5.2. Market Revenue and Forecast, By End-use (2017-2027)
12.5.3. Market Revenue and Forecast, By Delivery Mode (2017-2027)
12.5.4. Market Revenue and Forecast, By Application (2017-2027)
12.5.5. Market Revenue and Forecast, By End-use (2017-2027)
12.5.6. Brazil
12.5.6.1. Market Revenue and Forecast, By Type (2017-2027)
12.5.6.2. Market Revenue and Forecast, By End-use (2017-2027)
12.5.6.3. Market Revenue and Forecast, By Delivery Mode (2017-2027)
12.5.6.4. Market Revenue and Forecast, By Application (2017-2027)
12.5.7. Market Revenue and Forecast, By End-use (2017-2027)
12.5.8. Rest of LATAM
12.5.8.1. Market Revenue and Forecast, By Type (2017-2027)
12.5.8.2. Market Revenue and Forecast, By End-use (2017-2027)
12.5.8.3. Market Revenue and Forecast, By Delivery Mode (2017-2027)
12.5.8.4. Market Revenue and Forecast, By Application (2017-2027)
12.5.8.5. Market Revenue and Forecast, By End-use (2017-2027)
Chapter 13. Company Profiles
13.1. IBM Corp.
13.1.1. Company Overview
13.1.2. Product Offerings
13.1.3. Financial Performance
13.1.4. Recent Initiatives
13.2. OptumHealth, Inc.
13.2.1. Company Overview
13.2.2. Product Offerings
13.2.3. Financial Performance
13.2.4. Recent Initiatives
13.3. Oracle Corp.
13.3.1. Company Overview
13.3.2. Product Offerings
13.3.3. Financial Performance
13.3.4. Recent Initiatives
13.4. Verisk Analytics, Inc.
13.4.1. Company Overview
13.4.2. Product Offerings
13.4.3. Financial Performance
13.4.4. Recent Initiatives
13.5. MEDai, Inc.
13.5.1. Company Overview
13.5.2. Product Offerings
13.5.3. Financial Performance
13.5.4. Recent Initiatives
13.6. MedeAnalytics, Inc.
13.6.1. Company Overview
13.6.2. Product Offerings
13.6.3. Financial Performance
13.6.4. Recent Initiatives
13.7. McKesson Corp.
13.7.1. Company Overview
13.7.2. Product Offerings
13.7.3. Financial Performance
13.7.4. Recent Initiatives
13.8. Truven Health Analytics, Inc.
13.8.1. Company Overview
13.8.2. Product Offerings
13.8.3. Financial Performance
13.8.4. Recent Initiatives
13.9. Allscripts Healthcare Solutions, Inc.
13.9.1. Company Overview
13.9.2. Product Offerings
13.9.3. Financial Performance
13.9.4. Recent Initiatives
13.10. Cerner Corporation
13.10.1. Company Overview
13.10.2. Product Offerings
13.10.3. Financial Performance
13.10.4. Recent Initiatives
13.11. SAS Institute, Inc.
13.11.1. Company Overview
13.11.2. Product Offerings
13.11.3. Financial Performance
13.11.4. Recent Initiatives
Chapter 14. Research Methodology
14.1. Primary Research
14.2. Secondary Research
14.3. Assumptions
Chapter 15. Appendix
15.1. About Us
Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers